Debt Rattle November 10 2017
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Edward S. Curtis A smoky day at the Sugar Bowl—Hupa c. 1923 • Stock-Market Investors Are Starting To Freak Out About Junk Bonds (MW) • China’s
[See the full post at: Debt Rattle November 10 2017]SK: It just takes politicians to understand how money is created. So I think it is almost virtually impossible. They continue spreading this myth that they have got to tax us to be able to spend, running austerity, which is unnecessary. All this fits in to actually loading the pockets of the rich. Maybe there is a connection…
While I’m not completely satisfied by that statement, it does get to the heart of the problem; Ponzi USAmerica.
One huge, and likely insurmountable problem, in the US, is a thoroughly (for lack of a better word) brainwashed population.
It’s taken the better part of almost 15 years away to see it.
After nearly 15 years of forced, public, education (and I use that term lightly), the children are indoctrinated to the point of almost no escape, from a thoroughly fabricated reality.
Looking back through 72 years; 57 spent in country; I see no solution.
The Steve Keens, Michael Parenti’s, Noam Chomsky’s, Dmitry Orlov’s and James Kunstler’s of the world do a great service in lighting the way; so few are inclined to act. Just reading them gives one a vicarious sense of action.
For myself, I think it’s an overwhelming fear of the unknown; the Great Nothing (in the words of the Never Ending Story), that keep most from acting.
Much like going on a solo hike up the Columbia River Gorge’s many trails, on an unknown trail; once that first step is taken, each one following becomes easier…PARADISE
The ‘fury’ over the Paradise papers goes too far.
I keep reading how close EU banks are to failure and with ‘bail in’ it would mean anyone with a substantial amount of money would lose nearly everything. Why would any sane person keep their wealth in such a risky place. Also, this is THEIR money, which should already have been taxed so why should anyone be told what to do with it?
The West is also guilty in that it persuades the rich in developing countries to move their wealth to the West.
Keiser talks about compounding gains of over 20% per year! How!! I think I have read of one investment company which managed this kind of return.
The tax regimes in the West are infamous for favouring the elite over everyone else. Of course the elite end up with more money than they can spend. Of course they are going to do the best they can to preserve it. Of course they will use their influence to make sure the tax loopholes keep coming.
When governments have made sure that most of the wealth migrates to the elite you can’t say that it is the fault of the elites that this has happened, or that if the elites kept their money in the West it would somehow migrate to everyone else. It is the fault of the governments in the first place that wealth is unequally distributed – taking it away from those most likely to spend it in the economy and give it to those who won’t!
One thing I don’t understand, no matter how many times I say it, the Government ARE the Rich. They are the same people, protecting each other. Any talk of how “The Government” is going to crush the wealth of themselves, their wives, their friends and patrons, is wildly misplaced.
What I don’t get is, why is that so hard to understand? Is Mr. Smith in Washington? Do we not have the same families taking office generation after generation, Bush and Churchill and Roosevelt? What on God’s earth would make anyone think “government” would help here? They’re the ones who WROTE the tax code you’re complaining about, for 100 consecutive years. Crickey.
It was wise, Dr. D, to stop short of offering a solution:
https://www.law.cornell.edu/uscode/text/18/2385
Up to 20 years in jail 🙂Yes, Dr. D, from those nonproductive academics and assorted apparatchiks who live at the expense of the taxpayer, the solution is always more taxes.
By Jove, if big government got us all into this mess, certainly it can get us out,,,no?
Statists all.
I have thought for a long time that income tax had passed its use by date. Now if all existing taxes and exemptions were abolished and we started again I would have a tax on all Bank deposits with no exemptions whatsoever. Then I would impose an inequality tax on all income over say $150,0000.00pa. That should get those big companies. I think……
Taxes are not needed or necessary.
Borrowing and lending are not needed or necessary.
What is needed and necessary is adequate control of printing of the money supply.“Once you look at it that way, what the rich are actually doing – are siphoning off money that has been created by the government”
An interesting idea. Governments may well create “money” – but it is individuals and companies that create the “wealth” that it represents.
And I was under the impression that he was a smart guy – one of the few economists who have worked out that debt does matter. I guess it will take another generation of economists to work out where the wealth comes from.
“Lebanon PM’s Resignation Is Not All It Seems (Fisk) ”
Hariri is the bastard son of Abdullah. His mother was always treated as a princess in Saudi Arabia – she was charming and beautiful and much beloved. Her (second) husband, Rafiq Harir was probably told to marry her as a cover. He was a businessman so he naturally accepted.
The Abdullah branch of the Sauds is currently in purgatory.
Here is a photo of the site of the explosion that killed Rafiq Hariri
The Western (i.e. Israeli version) is that it was a car bomb and that Hezbollah was responsible (of course). Anyone looking at the photo can see that the bomb was under the road or it was caused by a missile that buried itself before exploding. Nearby cars were not overturned as the blast went up.
There is no shadow of doubt that it was an Israeli operation – as they had the most to gain.
Here is what Thierry Meysan had to say about it:
“While western media have announced that indictments against Hezbollah will be issued shortly by the Special Tribunal for Lebanon, it is the entire UN investigation that Russian magazine Odnako is calling into question. Thierry Meyssan posits that the weapon used to assassinate former Prime Minister Rafik Hairiri was supplied by Germany. Former German prosecutor and first commissioner in charge of the UN probe, Detlev Mehlis, seemingly doctored evidence to cover up his country’s involvement. These revelations embarrass the Tribunal and reverse the tide in Lebanon.”
Revelations on Rafik Hariri’s assassination
The lies that used to work in the Middle East no longer have the same effect. I guess the Israelis are stuck in a groove and cannot change their ways.
“Antarctica Is Being Rapidly Melted From Below (Ind.) ”
Not to worry. That is nature. Marie Byrd Land is a tiny part of the Antarctic. It is the part that is blue (melting) in the far west of the image below.
In total, the Antarctic is much the same as it was 100 years ago.
NASA Study: Mass Gains of Antarctic Ice Sheet Greater than Losses
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